Full recovery mode
The Chancellor’s prediction of strong growth in GDP could point to a resurgence for the commercial insurance market, says Paul Upton
The Chancellor’s Budget speech last month contained some fancy predictions on GDP growth over the next few years. Even allowing for the customary wet blanket applied by the Office of Budgetary Responsibility it is pretty clear that we are now in full recovery mode.
For the insurance industry the direct top-line consequences will be that insured asset values will continue to improve and, together with clients’ improved ability to afford premiums, all indications are that the market will grow.
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